The Minister of Budget and Economic Planning, His Excellency, Senator Abubakar Atiku Bagudu CON has commended the World Bank for supporting the economy of the country through facilitation of  grants from different Donors, especially, the European Union to further provide quality governance to the populace.

Senator Bagudu made this known on this week in Abuja when the World Bank Country Director, Mr. Shubham Chaudhuri led a World Bank team on a courtesy visit to his office.

The Honourable Minister listed the areas of support enjoyed by the Nigeria government from the World Bank over the years to include technical assistance, social and economic development, pipeline initiatives, microeconomic .analysis, and international cooperation among others.

Bagudu maintained that the present measures being been taken by President Tinubu’s administration to reposition Nigeria’s economy, will soon be appreciated by the masses when the reforms finally mature and materializes.

According to the Honourable Minister, the Federal Government is already rolling out social intervention and palliatives to ensure that the ongoing economic reforms in the country does not paralyze economic activities or bring unbearable discomfort to the masses.

The Minister promised that the Federal Government will strengthen its engagement with the World Bank in the area of blended development and impactful project execution for the benefits of every residents of the country.

In his address ,the World Bank Country Director, Mr. Shubham Chaudhuri explained that the focus of the World Bank is to assist in transforming the Nigeria by catalyzing private investment and job creation, and also investing in children and creating opportunities for Nigeria’s youth and women.

He said that apart from providing financial support to the federal government, the World Bank will also assist Nigeria in the areas of ideas development and shared experiences from other countries. “We are not just financing, we hope we can provide ideas and some experience from other countries.” He stated.

The World Bank Country Director emphasized the need for the Federal Government to ensure that public funds are spent effectively and efficiently for the common good of Nigerian people.

 

OLUDE OMOLADE

PRINCIPAL INFORMATION OFFICER

FOR: DIRECTOR, INFORMATION (BEP)

31/08/2023